Mild weather,ample stocks erode prices

摘要

UK NBP prices slipped in February as mild weather curbed demand leaving much of Europe heading towards summer with high storage stocks. Steady imports from Norway and UK offshore output left the system well supplied,with a limited call on storage with-drawals.March retained a slight premium to summer 2014, offering little incentive for supply to fall over the remainder of the winter.The storage overhang and tight generating margins for gas-fired plants weighed on the summer 2014 contract,which expanded its discount to summer 2015 on expectations of weak demand.